Since IAA Transportation Hanover opened, BYD’s Hall 21, B11 booth has been a top draw for media and visitors. BYD presented a full lineup of equipment spanning 3.5 tons to 44 tons: the ETT44 battery-electric tractor, ETH28 platform vehicle, EYT2.0-yard tractor, E-VALI LCV and T35 light truck. The ETT44, the world’s first battery-electric heavy tractor to earn Euro NCAP 5-star safety, also took home the City Safe Award.

To see BYD only through individual products would drastically understate its European competitive edge. Its real moat lies in systematic capabilities, not a single model: full-stack in-house tech, ecosystem-led solutions, TCO optimization via long warranties, and deep local presence — forming a short-term unreplaceable closed loop.

Unlike European OEMs relying on external suppliers for core e-parts, BYD is both tech supplier and vehicle maker, with Blade Batteries, 8-in-1 controls, integrated eAxles, hairpin dual motors and 1000V high-voltage platforms all developed in-house. Its European eTruck head, noted BYD is a tech firm, not a traditional vehicle maker, with all key EV components self-supplied.

The ETT44 delivers 750kW peak power (98%+ efficiency), far outperforming the 350–600kW of European peers. With 651kWh/434kWh Blade Batteries, it hits 600km max range, supports 1.5MW MCS charging (20 mins 20%-80%, 300–400km range top-up) and is compatible with 425kW CCS2 DC fast charging.

This 1000V platform edge, transferred from BYD’s passenger car tech, is a synergy no European OEM can match. BYD Executive VP Li Ke confirmed the firm will roll out passenger-car fast-charging tech to commercial vehicles, integrating solar, storage, charging infrastructure and fleet management into one-stop zero-carbon fleet solutions — positioning BYD far beyond a truck seller, as a full-scene zero-carbon fleet service provider.

Source: Sohu     Read The Article

PSR Analysis: BYD’s systematic play opens tangible opportunities for Europe’s heavy-duty truck market. Its full-stack in-house tech stack lets it move proven passenger-car solutions like high-voltage platforms and SiC controls over to commercial vehicles, delivering e-trucks that outperform local rivals.

It no longer just sells trucks but offers all-in-one zero-carbon fleet packages covering solar, storage, charging infrastructure and fleet management, filling Europe’s massive megawatt charging gap and lowering the barrier for logistics firms to go electric. Backed by its proprietary Blade Battery, BYD throws in a standard 10-year/1.2mn-km warranty, prices its e-trucks at USD $252,150 – $280,160 (€225k–€250k) (30% below local peers), and cuts 5-year TCO by 12%. This makes e-trucks fully cost-competitive with diesel, speeds up Europe’s heavy-duty electrification push, and forces local OEMs to step up their tech upgrades and build out the supporting new-energy ecosystem.

BYD’s arrival also brings real, tangible challenges to the market. Unlike European local OEMs that mostly act as vehicle integrators, BYD’s four-pronged edge — full in-house R&D, closed-loop ecosystem, TCO optimization, deep local presence — is nearly impossible for local players to copy quickly. It has already shaken up Europe’s century-old heavy-duty truck market order, with brands like MAN pushing the EU to slap extra tariffs on Chinese e-trucks, raising the risk of spreading trade barriers.

Local OEMs that want to catch up on in-house e-parts and ecosystem building will have to pour huge sums into overhauling their supply chains, breaking their long-stable profit models and facing extended periods of margin pressure. BYD’s upcoming local production in Hungary will also steadily eat into local brands’ market share over time, further rewriting the rules of the European heavy-duty truck game.   PSR

Jack Hao is Senior Research Manager – China

Indian automakers are increasingly exploring hybrid powertrains as a way to balance fuel efficiency, affordability and the uncertainty surrounding the pace of full electrification. Unlike battery electric vehicles (BEVs), strong hybrids deliver electric-assisted driving without requiring external charging, making them relevant to consumers who prioritize fuel savings but lack reliable home charging or frequently undertake long-distance journeys.

For OEMs, hybrids also provide a means to leverage existing engine-manufacturing capabilities while gradually building expertise in batteries, electric motors and power electronics.

However, current sales indicate that hybridization remains a selective opportunity rather than a broad-based market shift. India recorded 57,885 strong-hybrid passenger-vehicle sales in H1 2026, virtually unchanged year-on-year, compared with 139,065 EVs, up 65%, and 596,236 CNG vehicles, up 40%.

Toyota’s Hycross and Hyryder continue to anchor hybrid volumes, while contrasting performances across Toyota and Maruti Suzuki’s related SUV offerings highlight the importance of product positioning and pricing. The strategic challenge is therefore not simply to introduce more hybrids, but to make them economically compelling in higher-volume segments.

Sources: Autocar India   Read The Article  

PSR Analysis. This explains the emerging interest in smaller hybrids. Maruti Suzuki, Hyundai, Toyota and Renault are reportedly preparing compact hybrid offerings over the next 18–24 months, seeking to extend the technology beyond established premium and mid-size applications. Lower compact-car GST and tighter fuel-efficiency requirements improve the commercial rationale, but purchase-price premiums remain a critical barrier to mass adoption.

Regulation adds urgency without prescribing a single winning technology. India’s notified CAFE III standards take effect in April 2027, requiring approximately 16.7% improvement in the fuel-consumption benchmark across 2027–32. The framework recognizes hybrids, plug-in hybrids and BEVs, alongside other efficiency technologies, giving OEMs flexibility to manage fleet-level compliance.

Ultimately, hybrids are best viewed as a targeted portfolio hedge, not a substitute for electrification. OEMs with technology partnerships, localization opportunities and access to high-mileage customer segments can build a profitable hybrid business. Those unable to close the cost gap risk losing to CNG on running costs and BEVs on operating economics. The decisive factor will be segment-level total cost of ownership—not technology adoption alone.   PSR

Aditya Kondejkar is Research Analyst – South Asia Operations

IN THIS ISSUE

ALTERNATIVE POWER REPORT

• Geely Prepares 500 Wh/kg Solid-State EV Battery
• Irish Government Launches Development Plan for Data Centers
• Next-gen Zinc-Iodine Batteries Can Charge in 3 Minutes
• Poland Created Hydrogen Bus Demand, but Polenergia Walked Away

DATAPOINT REPORT: 2026 NA Scooter Production

NORTH AMERICA REPORT: End ofComment Period for EPA 2027 Emissions Policy

EUROPE REPORT:

• The Drive Towards Cleaner Marine Propulsion
• Sanlorenzo Reports Strong H1 Results

SOUTH AMERICA REPORT:

• VWCO Truck & Bus Partners with SAIC
• Foton Expands Dealer Network to 77 Locations in Brazil
• São Paulo Secures US$ 500 Million for Electric Bus Adoption

JAPAN REPORT: Labor Shortage Delays Takeuchi’s New Factory
SOUTH KOREA REPORT: Hanwha Completes Medium-Speed Engine Factory
INDONESIA REPORT: SANY Brings Multiple Power Options To Mining Market
CHINA REPORT: Sany’s First EV Heavy Truck Produced in Turkey
INDIA REPORT: Commercial Vehicle Demand Recovers

Researchers from Flinders University in Australia have published details of the latest steps in zinc-iodine technology. Prototype batteries can manage more than 60,000 recharge and discharge cycles, with recharges in just three minutes.

As the batteries are water-based, they don’t come with the same potential risk of explosion and fire as standard (NMC) lithium-ion batteries do. However, these batteries tend to deteriorate as they’re used because of the chemical reactions happening inside.

Source: MSN     Read The Article

PSR Analysis. The usual caveats apply with any new battery technology, in that you have to fully develop it and that it must be commercialized. However, one thing is clear, this battery technology is more suited to large scale uses.PSR

Subsidized buses would create hydrogen demand, demand would support refueling stations, stations would justify local hydrogen production. With enough production and infrastructure in place, a domestic low-carbon hydrogen industry could begin to emerge. In principle, it sounded logical and that it would work.

Polenergia, Poland’s largest private energy group started off solidly. By October 2024, they had building permits, and eight electrolyzer stacks had completed factory acceptance testing. In hydrogen- terms, that was at an advanced state.

Fast forward one year and Polenergia decided in January 2025 that it could not conclude the agreement. The company cited legal issues associated with the tender and the risk that it would not be able to deliver hydrogen on schedule. This was not simply a declaration that hydrogen cost too much, Polenergia’s subsequent corporate strategy called for a gradual withdrawal from hydrogen transportation.

Source: Clean Technica     Read The Article

PSR Analysis: There are a lot of views as to why this key project has failed, ranging from the creation of a hydrogen system that would always fail because it wasn’t running 24/7, to creating a demand through subsidy. Either way, it’s another failed hydrogen experiment, which seems to be the way of things for hydrogen at the moment.PSR

The comment period for proposed EPA emissions regulations starting with model year 2027 ended over the weekend of Sept. 6, 2026.

The regulatory amendments would include changes to the useful life periods and emission-related warranty periods. There are also amendments to the January 2023 provisions and from earlier rules. The agency also plans to make nonconformance penalties (NCPs) available to engine manufacturers beginning in 2027 and to amend inducement provisions.

“Americans depend on reliable trucks to move essential goods across the country,” EPA Administrator Lee Zeldin says. “If finalized, these changes will help manufacturers keep improving their vehicles without being forced to rush products to market before they’re ready. Combined with the Trump EPA’s first proposed deregulatory action to address ongoing DEF problems, this will ease real burdens for operators.

More than 100 comments were submitted. Below are a few of the comments.

Truck and Engine Manufacturers Association (EMA)

“The modifications to the emissions warranty and useful life provisions will make the 2023 Final Rule more implementable for manufacturers and more cost-effective for trucking fleets and other heavy-duty diesel vehicle and equipment operators. More specifically, the proposal to retain the current emission warranty periods will allow up-front reductions in product costs.

The proposed deferral of the longer useful life periods similarly will enable more effective and robust technology development and lower costs. And the proposed clarifications and corrections to many of the other compliance provisions will provide manufacturers with enhanced regulatory clarity.”

Prime Inc. (No. 15 on the CCJ Top 250)

“(W)e support extending the availability of EPA 2024 emissions-compliant products through 2027 and urge EPA to maintain this extended timeline.

“… Prime has experienced the consequences of premature technology adoption, including unplanned downtime, parts shortages, increased maintenance requirements and limited service capacity. Before widespread adoption within our fleet, we need sufficient EPA 2027 field experience to understand long-term durability, failure rates, maintenance costs, parts availability and service readiness.”

Hunter Truck

“I am concerned that imposing thousands of dollars in nonconformance penalties on otherwise proven, reliable engines is not a practical solution.

“These penalties do not disappear at the manufacturer level. Costs imposed on an engine manufacturer become costs to the truck manufacturer, dealer, fleet owner, independent trucker, freight customer and ultimately the American consumer. At a time when trucking companies are already dealing with high equipment costs, insurance expenses, interest rates, maintenance costs, labor pressures and uncertain freight markets, adding thousands of dollars to the cost of an engine creates another financial burden on the very industry responsible for moving nearly every product Americans purchase.

“If EPA believes that continued production of engines meeting the previous emissions standards is appropriate during the transition to the 2027 standards, it raises an important question: Why should the purchaser of that engine be financially penalized for buying a product that EPA is allowing to remain in commerce.

Volvo Group

“Since EPA finalized the 2023 Heavy-Duty Low-NOx Rule, the Volvo Group has made substantial investments in the development of a new engine family, advanced vehicle platforms and aftertreatment technologies to comply with the highly stringent NOx standards that take effect on Jan. 1, 2027. …

“The proposed Low-NOx Amendments would provide greater flexibility within the framework of the 2023 Final Rule, help reduce vehicle acquisition costs, and allow manufacturers to ramp up production in a controlled manner while supporting increased customer confidence as they transition their operations to the new technologies.

We agree with EPA’s decision to maintain the 35 mg/bhp-hr NOx standard in the rule. The Volvo Group remains committed to meeting customer demand by supplying compliant engines and vehicles supporting a stable and successful market transition.”

Source: Source: CCJ Comment period for EPA 2027 emissions policy changes ends

PSR Analysis. The truck pre-buy for 2026 is effectively over as the OEM build slots are generally full for the remainder of the year. Due to the transitional period, PSR expects demand to continue to be strong in 2027 as the fleets replace their older trucks with either emission compliant trucks or current trucks with nonconformance penalties. PSR anticipates there will be a modest drop-off in truck demand in 2028. However, due to the transition period a sharp year-over-year decline in sales is not expected.PSR

Chris Fisher is Senior Commercial Vehicle Analyst

The Large Energy User Action Plan (Leap) aims to see the location of new businesses with large demands better planned so that they are constructed near renewable energy sources. Under the Large Energy User Action Plan, any large energy users (10 MW-plus), such as data centers must provide at least 80% of their energy demand through new onsite renewable energy generation and storage.

Source: Breaking News     Read The Article

PSR Analysis. The 80% rule means that data centers sited near renewable energy sites can bypass potential grid connection delays (which can take several years) and connect directly to the renewable site. It also supports decarbonization efforts and relieves pressure on local grids. However, it does mean fewer backup gen-sets may be sold if the data center supports the renewable energy with batteries.PSR

This means that Geely’s cells could hold roughly twice the energy per kilogram of the best lithium-ion battery packs shipping in EVs today. The best high-nickel NMC cells in production have about 250 to 300 Wh/kg while Tesla’s 4680 cell sits near 245 Wh/kg. LFP cells are lower and peak at around 200 Wh/kg.

Large battery packs can weigh 100kg, so being able to either double the range (for the same weight) or maintain the range (at half the battery weight) is a tremendous achievement.

Source: Electrek     Read The Article

PSR Analysis. There is, however, a small problem. Pilot deployment in 2027 is not the same as cars on roads in 2027, and Geely hasn’t put a date on when this will happen. When it does happen however, it could be a game changer.PSR

Guy Youngs is Forecast & Adoption Lead

The marine pleasure industry is entering a period where regulation and technology are increasingly working together. Hybrid propulsion, batteries, alternative fuels and fuel cells are moving from experimental projects into real vessels, while new regulations are creating stronger incentives to reduce emissions and improve efficiency.

Regulation as a technology driver. The IMO (International Maritime Organization) has already introduced measures such as the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII). Since 2023, applicable vessels must meet energy-efficiency requirements and larger ships must monitor their annual carbon intensity.

Europe is putting further pressure on the market. Maritime transport entered the EU Emissions Trading System (EU ETS) in 2024, increasing the financial cost of greenhouse-gas emissions. FuelEU Maritime, effective in 2025, progressively reduces the greenhouse-gas intensity of energy used by ships above 5,000 GT calling at EU ports.

These regulations do not prescribe one specific technology. Instead, they encourage operators and manufacturers to find the most efficient combination of propulsion, fuels and energy-management systems.

Hybrid propulsion moves into production. Hybrid systems are becoming one of the most practical solutions. Combining diesel engines, electric motors and batteries allows vessels to select the most efficient operating mode depending on speed and operating conditions.

Sanlorenzo’s new SHE is a good example. The 25.5-meter yacht combines two Volvo Penta D13 engines with two 160 kW electric motors. It can reach 20 knots while also operating in fully electric mode at lower speeds.

Volvo Penta is also expanding its IPS hybrid platform, integrating electric propulsion, conventional engines and energy management into a single system.

Methanol and fuel cells. Alternative fuels are also moving closer to commercial applications.

Sanlorenzo’s 50Steel uses a green-methanol fuel-cell system that converts methanol into hydrogen and then electricity. The system can provide up to 100 kW for hotel loads without running the main engines or generators.

Sanlorenzo is also developing the 50 X-Space with MAN around methanol-fueled propulsion, demonstrating that methanol could have applications beyond onboard electricity generation.

Hydrogen remains a longer-term option. Hydrogen offers significant potential for reducing emissions, but storage, infrastructure and cost remain challenges.

The Bluegame BGH-HSV, developed for America’s Cup applications, demonstrates how hydrogen technology can already be used in high-performance marine applications. Larger commercial vessels may eventually use hydrogen or hydrogen-derived fuels as part of a broader energy strategy.

Efficiency starts with the hull. Cleaner propulsion is not only about engines and fuels. Lightweight materials, improved hull designs, foiling systems and technologies such as Hull Vane can reduce the energy required to move a vessel.

This means future efficiency will come from the combination of hull design, propulsion, energy storage and intelligent energy management.

What comes next? Not every vessel is subject to the same regulations. IMO and EU requirements primarily target commercial shipping and defined categories of larger vessels, while private recreational craft follow a different regulatory framework.

Nevertheless, the direction of travel is clear. The marine industry is moving towards a combination of hybrid propulsion, batteries, lower-carbon fuels, methanol, hydrogen, fuel cells and more efficient hulls.

There is unlikely to be one single replacement for the diesel engine. Instead, the next generation of vessels will combine several technologies to use energy more efficiently—and regulation will continue to accelerate that transition.  PSR

Natasa Mulahalilov is Marine Pleasure Boat Analyst

The Italian builder reported €471.3 million in net revenues from new yachts in H1 2026, up 3.8% year on year. EBITDA increased 3.7% to €83.5 million, while net profit rose 5.4% to €49.1 million.

More significantly, new order intake reached €496.4 million, up 18.3%, while the gross order backlog stood at almost €1.5 billion. With 89% of the backlog already sold to final clients, Sanlorenzo has strong visibility over future production.

Sanlorenzo’s strategy is increasingly clear: combine exclusivity and high-value yachts with international expansion and technological innovation, making technology not only an environmental response but an increasingly important part of the yacht’s value proposition.  

It operates across several segments, from composite motor yachts to large aluminum and steel superyachts. Its Yacht Division covers yachts from approximately 24 to 41 meters, while the Superyacht Division ranges from 44 to 74 meters. Bluegame and Nautor Swan add further products at different sizes and market positions.

The Superyacht Division was the strongest performer in H1. Revenue reached €154.1 million, up 12.4%, increasing its contribution to total new-yacht revenue to 32.7%.

The Yacht Division remained the largest contributor, generating €232.8 million, up 3.1%. This combination of strong core-yacht performance and faster growth in larger vessels is strategically important, as superyachts bring higher-value projects and strengthen Sanlorenzo’s position at the premium end of the market.

Bluegame, Sanlorenzo’s sport-utility and crossover yacht brand, covers the 13–26 meter segment and focusing on innovative multihull and low-emission technologies, remained broadly stable at €43.6 million, while Nautor Swan generated €40.9 million, down 13.9% as the sailing market remained softer, particularly below 24 meters.

Europe remains Sanlorenzo’s largest market, generating €222.6 million, or 47.2% of new-yacht revenue. However, revenue declined 16.6% compared with H1 2025.

By contrast, the Americas grew 35.4% to €129 million, while Asia-Pacific increased 35.8% to €73.9 million. Middle East and Africa also grew 22.7% to €45.8 million.

The European weakness reflects a more cautious luxury market, with slower economic growth, geopolitical uncertainty and more conservative spending among high-net-worth consumers. European luxury markets have also been experiencing a broader slowdown in 2026.

For Sanlorenzo, however, this is partly offset by its increasingly global customer base. The company is benefiting from strong demand in North America, Asia and the Middle East, reducing its dependence on its traditional European market.

Sanlorenzo’s strategy is built around growth and innovation. The company is benefiting from strong demand for larger yachts, rapid expansion in international markets and increasing investment in new propulsion technologies.

With an order backlog approaching €1.5 billion and almost 90% already sold to final customers, Sanlorenzo enters the second half of 2026 with strong visibility.

Alongside its financial performance, Sanlorenzo continues to increase the technological content of its portfolio. While the company does not disclose a separate investment figure for new propulsion technologies, its product strategy includes hybrid propulsion, green-methanol fuel cells, methanol-fueled propulsion and hydrogen applications. The launch of the 25.5-meter SHE, with its Volvo Penta hybrid system, shows that these technologies are moving from development into series production.  PSR